Quantum Wealth Summary
- Cryptocurrency is in the headlines again, with speculation and wild swings happening in the market.
- Is crypto too risky? Should investors be cautious?
- We do an in-depth investigation into the history of crypto, as well as common-sense ways for investors to protect themselves.
- We also do a deep dive into 2 different companies offering exposure to crypto technology.
There’s no hiding it: cryptocurrency has become a lightning rod for controversy.
It doesn’t matter if you’re a fresh rookie who’s just getting started with investing — or you’re a seasoned veteran who’s been cultivating a portfolio for years.
Chances are, you already have an opinion about this emerging technology. And you may be trying to figure if it’s worth exploring — or avoiding.
Source: The Conversation
Well, you’re certainly not alone.
Right across the board, leaders appear to be divided on the usefulness and potential of cryptocurrency. And their opinions do make for some fascinating reading.
For instance, Warren Buffett, the Oracle of Omaha, has expressed his doubts about the value of crypto:
‘They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem.’
Buffett’s business partner, Charlie Munger, is far more scathing and moralistic:
‘I don’t welcome a currency that’s so useful to kidnappers and extortionists. The whole damn development is disgusting and contrary to the interests of civilization.’
Not to be outdone, Donald Trump, 45th President of the United States, has also weighed in with his view:
‘Bitcoin, it just seems like a scam. I don’t like it because it’s another currency competing against the dollar.’
Interestingly enough, ‘Rich Dad Poor Dad’ author Robert Kiyosaki disagrees and has a contrarian outlook:
‘I love Bitcoin because I do not trust Fed, Treasury, or Wall Street.’
Meanwhile, Tesla man Elon Musk appears to be just as enthusiastic, and he explains his rebellious stance:
‘I might pump but I don’t dump. I would like to see Bitcoin succeed.’
Apparently not wanting to miss out, Apple CEO Tim Cook has revealed that he has ventured into crypto investing as well:
‘It’s reasonable to own it as part of a diversified portfolio.’
Well, there you have it. A wide range of views here. Right across the spectrum.
So, who’s right? Who’s wrong? And how do we get to the heart of this matter: where are the opportunities and what is the future for investors?